The S&P 500 saw yet another squandered opportunity by the bears to inflict some meaningful damage to the powerful upmove off of the late-November lows.

Dr. Adrian Manz analyzes the major markets, stock sectors, and individual stocks for December 16.

Dave Landry takes a one-minute look at the stock market in his video for December 16.

All the major indices remain in an uptrend and the price action suggests consolidation. But leading ETFs appear to be losing relative strength and market internals have been poor. Also, market laggards are taking leadership roles, often a bearish signal. When mixed signals abound, it's generally best to take a protective stance.

Yields across the UST spectrum are maintaining their upward momentum and have had the effect of pushing mortgage rates in the US back above 5%, which may be just one of the unintended consequences of QE2.

The "recovery" is too weak to raise rates, said the Fed.  And the economy may need more stimulus.

The stock market indices had a sloppy downside day today after morning strength that tested resistance and failed.

From a big picture weekly chart perspective, the series of higher lows and higher highs off of the October 2008 bear market low is the dominant pattern that underpins the iShares FTSE/China 25 Equity Index (FXI) right now.

Download Adrian Manz's Around The Horn Intraday Trading Plan PDF for December 15.

Dr. Adrian Manz analyzes the major markets, stock sectors, and individual stocks for December 15.